The acquisition would enable Commvault to extend support for its cybersecurity solutions to AWS users, offering tools to help them protect and recover their data and cloud-native applications.
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The acquisition is expected to close in early October 2024 with immediate accretive to annual recurring revenue (APR) and revenue, and accretive to free cash flow within the next three quarters.
No financial terms of the deal were disclosed.
“In the event of an outage or cyberattack, rapidly getting back to business is paramount to our customers," said Sanjay Mirchandani, CEO of Commvault. “Combining Commvault's industry-leading cyber resilience capabilities with Clumio's exceptional talent, technology, and AWS expertise advances our recovery offerings, strengthens our platform, and reinforces our position as a leading SaaS provider for cyber resilience.”
Founded in 2017, Clumio offers a SaaS backup solution designed to secure applications built and running on AWS. The startup’s platform airs gaps user data, storing it with composite encryption.
Clumio’s platform acts as an extra layer of protection and can even help users bounce back following severe IT disruptions as once it’s protected, it’s undeletable, enabling users to resume operations quickly.
The likes of Duolingo, Cox Automotive, and Atlassian count among Clumio’s customers.
“At Clumio, our vision was to build a platform that could scale quickly to protect the world's largest and most complex data sets, including data lakes, warehouses, and other business-critical data," said Poojan Kumar, co-founder of Clumio. “Joining hands with Commvault allows us to get our cloud-native offerings to AWS customers on a global scale.”
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